NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Find Buyers

NASDAQ 100 Technical Analysis

You can see that we have been grinding a bit higher during the course of the trading session early on Thursday, but quite frankly, I don’t know how excited I would get at this point because we have a scenario where market participants just are grinding away. I think we’re trying to sort out whether or not there’s a reason to continue going higher. Don’t worry, they’ll find it. But right now, I think we’re just waiting to see whether or not buyers will continue to appear on every dip. There’s nothing on this chart that suggests they won’t.

And of course, the 20-day EMA is an area that I think a lot of people will be paying close attention to. So with that, I think you’ve got a scenario where you’re just looking for little bits and pieces of value and you’re taking advantage of it. If we do break down below the 20 day EMA, there is still plenty of support underneath there and I think ultimately you have a situation where there’s an uptrend line, there is the 50 day EMA, etcetera, etcetera.

To the upside, we have the 18,500 level, which I think does offer a potential resistance barrier, but probably more likely a target. Keep in mind that there is only a handful of stocks out there that move the markets, and I don’t think that’s going to change anytime soon. As long as the Federal Reserve seems like they are going to loosen monetary policy, I think you’ve got a situation where the buyers are going to continue to return time and time again to try to take advantage of what has been a very explosive uptrend.

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